Bharat Electronics (BEL) has experienced a boost in its share price following a significant contract it secured from the Indian Navy. Followings are some key points:
- Order from Indian Navy: BEL got a substantial order worth Rs 2,167.47 crore from the Indian Navy. The order is for the supply of state-of-the-art indigenously designed and developed Electronic Warfare (EW) suite for use on-board warships.
- Share Price Increase: This news provided a boost in BEL’s share price and traded higher in morning trading on February 14th. At 9:25 am, the share price was quoted at Rs 177.70, up Rs 1.25, or 0.71 percent, on the BSE.
- Additional Orders: Apart from the major order from the Indian Navy, BEL also received orders for various equipment worth Rs. 114.59 crore since the last disclosure on January 30th. Some Software Defined Radios (SDRs), High Definition (HD) Very Low Frequency (VLF) receivers, Electronic Voting Machines (EVMs), etc. are included in these orders.
- Cumulative Orders: In present time of financial year, BEL has received cumulative orders amounting to Rs 30,776.06 crore. This shows a strong performance in terms of securing contracts and orders.
The news of securing a significant contract from the Indian Navy can have positively impact on BEL’s share price and reflects positively on the company’s performance and capabilities in the defense sector.
A glimpse on its fundamentals, stock has increased its income in 153 Cr while comparing the previous quarter ansd net profit of 58 Cr more in Dec 2023 than Sept 2023. Apart from this, share capital value was also in increasing trend with 51.14% of promoters holdings.
Overall, stock seems very strong from its fundamentals scenario, so investing for both long term investors and short term are preferred.